Your First step to getting the Bag? A Plan!

Hey, Welcome back, or if you landed here mid-scroll then welcome for the first time.

I know I said we're gonna break down finance bro lingo but let's take it slow.

Firstly, we need to talk about you.

What do you want?

Like fr, why do you even care about money? Is it for freedom? For soft life? For finally buying a new car? Or to finally be able to hand in that resignation letter and live in peace?

Why do you need goal (No, we're not just winging it)

Setting financial goals is like turning on a Google Maps. It helps to direct you where you want to go and without them you'll just be cruising over the idea and not really have an end point. And not to burst your bubble but that's how you end up saying you get money but don't have savings or investments.

Goals help you to;

  • Stay focused especially when there's that one unnecessary purchase that could've been turned into an investment instead.
  • Track your wins (so you feel great when you only saved 20k)
  • Avoid hopping on every financial trend out of panic.
Okay, but what kind of goals?
Glad you asked.

Short-term (0-12 months)
  • Emergency fund (a 101 adulting starter pack)
  • Paying off small debts
  • Saving for a trip, new phone or that one concert or party
Mid-term (1-5 years)
  • Buying whatever helps your hustle such as a laptop, camera etc
  • Starting your own side gig
  • Building your "quitting fund" just incase your job is in shambles. 
Long-term (5+ years)
  • Buying land or a house
  • Retiring
  • Building generational wealth

How to set goals that actually work

Vague goals don't work. "I wanna save more" is cute and all but it won't take you that far. Try this instead.
  1. Specific: I want to save 50,000 as an emergency fund. 
  2. Measurable: I'll save 20,000 per month designated to investing
  3. Achievable: I'll cut out from 5 takeout meals... cough cough (I'm a victim too👀)... to 3
  4. Relevant: Because I want to feel less anxious about money.
  5. Time-bound: I'll achieve my goal in 5 months.

Your Turn Now 

Take 5 mins after reading this. Just a piece of paper from your bedside or from a book lying on your desk and jot down 3 financial goals, short, mid and long term. Doesn't have to be that deep at first. Just start and then from there you can customize using the SMART  system that I have talked about.

Your money journey should feel yours, not scary, not overwhelming and definitely not boring.

Lastly, all I have to say is, the investment lingo will have to wait. How are we going to be able to invest and there's no money to invest. So stick around and we'll reach a point where I don't have to explain What market indices are.

Yours truly,
Your WalletWhisperer💅📈
 (Icl today was a long yap session)

Comments

  1. KT25 April 2025 at 01:16

    Thank you so much the Wallet Whisperer for bringing such a valuable initiative and in such a catchy and inspiring manner. I already got my first lesson in 😂 to make my saving goals SMART - and not “I want to save more”. Can’t wait for the upcoming content !

    ReplyDelete

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